Visa (NYSE:V) Stock Price Down 0.6% – Here’s What Happened

Shares of Visa Inc. (NYSE:V) were down 0.6% during mid-day trading on Tuesday . The stock traded as low as $312.77 and last traded at $314.64. Approximately 880,950 shares changed hands during trading, a decline of 87% from the average daily volume of 6,939,523 shares. The stock had previously closed at $316.65.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on V shares. Mizuho boosted their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

The company’s 50-day moving average price is $292.09 and its 200 day moving average price is $278.55. The stock has a market capitalization of $585.91 billion, a PE ratio of 32.34, a PEG ratio of 2.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in V. State Street Corp lifted its holdings in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the last quarter. FMR LLC grew its stake in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares during the period. 82.15% of the stock is currently owned by institutional investors.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.